Retail stocks rise; Nike, Cost Plus drop

NEW YORK (MarketWatch) -- Retail stocks rose with the broader markets on Friday after reports of a ceasefire in Libya. The Group of Seven also calmed the markets after it agreed on coordinated action to stop the yen's rise following the country's quake and tsunami disaster. The S&P Retail Index
RLX, +0.00%
rose 0.5% to 496.39. Trading in opposition to the market moves, Nike Inc.
NKE, -1.06%
shares tumbled 9.2% after the sneaker giant warned of cost pressures that will hurt its margin well into next year and it won't be able to raise prices across the board quickly enough. Cost Plus Inc.
cpwm
shares dropped 6% after the home-furnishings retailer forecast a first-quarter loss. Estee Lauder
EL, +1.23%
shares were little changed after the beauty company kept its full-year profit forecast. Still, it said its operations in Japan have been affected by last week's quake.

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